Senators Cramer, Scott and colleagues oppose Democratic plan to make SBA a direct lender

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WASHINGTON – U.S. Senator Kevin Cramer (R-ND), a member of the Senate Banking Committee, joined Senator Tim Scott (R-SC) in a letter to Senate Majority Leader Chuck Schumer, President of the House Nancy Pelosi, to Senate Small Business Committee Chairman Ben Cardin, and House Small Business Committee Chairman Nydia Velasquez, warns of Democrats’ plans to make the Small Business Administration (SBA) a lender direct through their $ 3.5 trillion spending program.

“Allowing the SBA to establish and manage a lending program that it will regulate itself will hurt job creators and the economy of the United States as a whole,” wrote the senators. “We encourage you to learn from the lessons of the past year and see that the way to increase the availability of these products for those who do not have access to them is not simply to give government a greater role. , but rather to empower financial institutions to do what they do best. “

Senators Cramer and Scott are joined on the letter by Senators Bill Cassidy (R-LA), Roger Marshall (R-KS), Thom Tillis (R-NC), John Barrasso (R-WY), James Lankford (R- OK), Todd Young (R-IN), Steve Daines (R-MT), Jim Risch (R-ID), Mike Crapo (R-ID), John Kennedy (R-LA), Jim Inhofe (R-OK) , Joni Ernst (R-IA) and Jerry Moran (R-KS).

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